Scarborough Advisors LLC Makes New $116,000 Investment in Colgate-Palmolive (NYSE:CL)

Scarborough Advisors LLC purchased a new stake in Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,457 shares of the company’s stock, valued at approximately $116,000.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in Colgate-Palmolive by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock worth $2,561,340,000 after acquiring an additional 4,625,472 shares during the period. Morgan Stanley lifted its stake in Colgate-Palmolive by 3.2% in the third quarter. Morgan Stanley now owns 16,815,987 shares of the company’s stock valued at $1,195,785,000 after buying an additional 514,559 shares during the period. Northern Trust Corp boosted its holdings in Colgate-Palmolive by 3.3% during the third quarter. Northern Trust Corp now owns 9,452,931 shares of the company’s stock worth $672,198,000 after buying an additional 305,862 shares during the last quarter. Norges Bank acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth about $731,843,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd raised its position in shares of Colgate-Palmolive by 1.3% in the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,709,304 shares of the company’s stock valued at $534,799,000 after acquiring an additional 86,671 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $95.95 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. The company’s fifty day simple moving average is $91.86 and its 200 day simple moving average is $86.39. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $96.08. The company has a market cap of $78.72 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 3.48 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the firm earned $0.73 EPS. Colgate-Palmolive’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, July 19th. Colgate-Palmolive’s payout ratio is presently 63.29%.

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John W. Kooyman sold 3,497 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sally Massey sold 12,226 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now directly owns 13,924 shares in the company, valued at $1,309,691.44. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Argus increased their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group started coverage on Colgate-Palmolive in a report on Friday, March 1st. They set a “buy” rating and a $93.00 price objective on the stock. Barclays increased their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley upped their price target on shares of Colgate-Palmolive from $101.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.94.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.